Mutual Savings Credit Union Mortgage Rates, Fees & Info
Birmingham, ALLEI: 2549008PQJ4J5Z32RI14
Tax ID: 63-0148940
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Mutual Savings Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Mutual Savings Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Tuscaloosa, Cullman, Alexander City, and Crestview among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Mutual Savings Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
119Origination Dollar Volume (All Markets)
$24,575,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 69 | $16,995,000 | $246,304 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 17 | $1,705,000 | $100,294 | $0 | 0.00% |
| Cullman, AL (FHA|USDA|VA) | 2 | $1,620,000 | $810,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 13 | $1,205,000 | $92,692 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| Selma, AL (FHA|USDA|VA) | 7 | $475,000 | $67,857 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $235,000 | $78,333 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Mutual Savings Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 119 | $24,575,000 | $206,513 | $0 | 0.00% |
For 2021, Mutual Savings Credit Union's most frequently originated type of loan was Conventional, with 119 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 87 | $15,845,000 | $182,126 | $0 | 0.00% |
| Home Purchase | 31 | $8,695,000 | $280,484 | $0 | 0.00% |
| Other | 1 | $35,000 | $35,000 | $0 | 0.00% |
For 2021, Mutual Savings Credit Union's most frequently cited loan purpose was Refi, with 87 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 119 | $24,575,000 | $206,513 | $0 | 0.00% |
For 2021, Mutual Savings Credit Union's most frequently cited loan duration was Other, with 119 originations.
Loan Sizing
2021 saw Mutual Savings Credit Union place emphasis on $100,000 or less loans with 56 originations, totaling $3,010,000 in origination value.
Applicant Income
Mutual Savings Credit Union lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 119 | $24,575,000 | $206,513 | $0 | 0.00% |
Mutual Savings Credit Union lent most frequently to those with DTI ratios of Exempt%, with 119 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.18%
Mutual Savings Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination84.87%
Mutual Savings Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 119 | $24,575,000 | $206,513 |